Investment - Articles - Inheritance Tax pulls in over GBP8bn in record tax haul

 Simon Martin, Head of UK Technical Services at Utmost Wealth Solutions: “For the fourth year in a row, Inheritance Tax receipts reached new all-time highs in 2024/25 as frozen thresholds and rising asset prices continue to drive record totals for the Treasury. This boost is forecast to continue delivering increasing revenues to the Chancellor following the reforms announced at the Autumn Budget, especially the inclusion of pension death benefits from April 2027. These significant changes to the tax regime, alongside those made to the non-dom regime, have created rising demand from clients for professional advice. This is critical to understanding how the changes to fiscal policy will impact them and any steps they can take to support wealth transfer strategies.”

 Stephen Lowe, Director at Just Group: “It’s now four years on the trot that Inheritance Tax has delivered record-breaking annual tax takes for the Treasury, on the back of a combination of frozen thresholds and rising property prices. As the saying goes – death and taxes are the two certainties in this world. This winning streak for the Treasury looks likely to continue for some time to come, with the changes announced at the Autumn Budget set to bring in even greater amounts over the rest of this decade and beyond. Anyone who is concerned their estate may be subject to IHT should get an up-to-date valuation of their estate, including a recent assessment of their property wealth, to help them understand where they stand. Estate planning is complex and professional financial advice can be immensely helpful for people who want to manage their estate efficiently.”